Many businesses provide each of their customers with a billing statement detailing the customer's charges over a period of time. For example, credit card issuers provide each of their account holders with a billing statement that lists each transaction, such as purchases and payments, which have been applied against their credit card account. Each transaction listed on the statement (each "billing item") specifies a transaction amount, such as a purchase price debited to the account or a payment credited to the account. Billing items may further comprise merchant-specified text identifying the transaction, such as a merchant name, merchant address and/or merchant telephone number. A billing statement further includes an amount of payment due which is calculated by aggregating the transaction amounts.
Billing statements may also be used for advertising to account holders. Many merchants pay one or more credit card issuers for the ability to promote goods and services in flyers that are sent with credit card billing statements. For example, NewSub Services, Inc. is a merchant that advertises magazine subscriptions through attachments to billing statements. In this manner, an account holder's billing statement can serve as a medium for advertising to that account holder.
Billing statements may also be used for notifying account holders of rewards they have earned. First Data Corporation's U-$ave program provides a reward, such as a 10% discount, to each account holder who has met predetermined criteria. The account holder's billing statement indicates the discount earned, and an amount of payment due is adjusted and printed on the statement. Similarly, the American Express Custom Extras program and Express Rewards program each allow merchants to specify reward criteria. Account holders that meet the criteria are notified on their billing statement of what reward they have earned.
Billing statements thus serve to notify account holders of transaction history, merchant promotions and rewards earned. At best, merchants hope that such notification may generate some future sales. However, like all advertising, the notification may be ignored by the account holders, and no future sales to the account holders are guaranteed.
It would be advantageous to provide a method and apparatus for utilizing billing statements in a more efficient manner to generate additional sales to account holders.